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TRF.RT - First Asset Energy & Resource rights offering
2007-11-20 17:49 MT - Rights Offering
TSX bulletin 2007-1637
Rights symbol: TRF.RT
Rights Cusip No.: 31862T 11 6
Unitholder entitlement: One right for each unit held on the record date
Terms of the rights: Four rights plus $24 per unit
Expiry time: 4 p.m. (local time) on Jan. 3, 2008
Ex rights date: Nov. 22, 2007
Record date: Nov. 26, 2007
Designated market-maker: Orion Securities Inc.
Additional information on the rights offering may be found in the fund's rights offering circular dated Nov. 13, 2007, which is available at www.sedar.com. Capitalized terms used but not otherwise defined are as defined in the circular.
Holders of limited partnership units of First Asset Energy & Resource Fund of record at the close on Monday, Nov. 26, 2007, will be granted transferable rights to subscribe for and purchase additional units of the fund. Each holder of units at the close on the record date is entitled to receive one right for each unit held. Four rights entitle the holder thereof to purchase one unit at a price of $24 per unit on or before 4 p.m. (local time) on Jan. 3, 2008.
The units of the fund will commence trading on an ex rights basis at the open on Thursday, Nov. 22, 2007, at which time the rights will be posted for trading on a when-issued basis. On the record date, the fund will cause rights certificates to be delivered to, and registered in the name of, each registered unitholder, including CDS Clearing & Depository Services Inc. or its nominee. Rights certificates will not be mailed to unitholders who hold their units indirectly through a broker or a participant in the CDS system. Such unitholders will be issued the rights in book-entry form. The fund expects that each unitholder who holds their units indirectly through a broker or CDS participant will receive a confirmation of the number of rights owned from its respective CDS participant in accordance with the practices and procedures of that CDS participant. CDS will be responsible for establishing and maintaining book-entry accounts for its participants holding rights.
In order to exercise their rights, registered unitholders must properly complete and sign Form 1 on the rights certificate and deliver or mail it together with payment in full of the subscription price in Canadian funds by certified cheque, bank draft or money order payable to the order of Computershare Investor Services Inc. so as to be received at the Toronto offices of Computershare prior to the expiration time on the expiry date. A subscriber that holds through a CDS participant may subscribe for units by instructing the CDS participant holding the subscriber's rights to exercise all or a specified number of such rights and forwarding the subscription price for each unit subscribed for to the CDS participant which holds the subscriber's rights. Such unitholders must provide the CDS participant holding their rights with instructions sufficiently in advance of the expiration time to permit the proper exercise of their rights. CDS participants will have an earlier deadline for receipt of instructions and payment than the expiration time on the expiry date. Only whole units may be subscribed for. Fractional units will not be issued and a unitholder holding a total number of rights not equally divisible by four will not be entitled to subscribe for an additional unit with any remainder of less than four rights. Each holder of rights who has initially subscribed for all of the units to which he or she is entitled pursuant to the basic subscription privilege has the right to subscribe for additional units, if available, at the price equal to the subscription price for each additional unit. The number of additional units available for all additional subscriptions will be the difference, if any, between the number of units issuable upon exercise of rights and the total number of units subscribed for pursuant to the basic subscription privilege at the expiry date (the additional subscription privilege). Subscription for additional units will be received subject to allotment only. If any holder of rights has subscribed for fewer additional units than such holder's pro rata allotment of additional units, the excess additional units will be allotted in a similar manner among the subscribers who were allotted fewer additional units than they subscribed for.
To apply for additional units under the additional subscription privilege, a registered unitholder must properly complete and sign Form 2 on the rights certificate and deliver it to Computershare prior to the expiry date. A subscriber that holds through a CDS participant must forward their request to a CDS participant prior to the expiry date. Payment for additional units, in the same manner as for the basic subscription privilege, must accompany the request or rights certificate, as the case may be.
This offering is made in Canada and not in the United States or any territory or possession thereof. This offering is not, and under no circumstances is to be construed as, an offering of any rights or units for sale in the U.S. or any territory or possession thereof or an offering to any national or resident of the U.S. or any territory or possession thereof or a solicitation therein of any offer of rights or units of the fund. Accordingly, neither a subscription nor an application for additional units will be accepted from any person, or his agent, who appears to be, or who the fund has reason to believe is, a national or resident of the U.S. or its territories or possessions. The CDS participant(s) for U.S. unitholders who hold their units through a CDS participant may, prior to the expiration date, attempt to sell the rights allotable to such U.S. unitholders at the price or prices it determines in its sole discretion. Any proceeds received by the CDS participant(s) with respect to such rights will be delivered by the CDS participant(s) mailing cheques in Canadian funds, as soon as practisable to such U.S. unitholders at their last recorded addresses or held for the account of such unitholder as the unitholder may direct. It is anticipated that the circular and rights certificates will be mailed to registered unitholders on or about Dec. 3, 2007.
The fund has retained National Bank Financial Inc. to form a facilitating dealer group in which members of the Investment Dealers Association of Canada, the Toronto Stock Exchange and the TSX Venture Exchange will be invited to join for the purpose of soliciting subscriptions for the units offered hereby. Under this agreement the dealer manager has agreed to facilitate the exercise of the rights and the subscription for units. In consideration for such services, the fund has agreed to pay the dealer manager a fee of $100,000 plus a fee of 10 cents for each unit issued pursuant to the offering. The fund has also agreed to pay a subscription fee of 30 cents per unit in respect of each subscription procured by a member of the facilitating dealer group (including the dealer manager).
Trading and settlement rules
Trade dates Settlement dates
Dec. 28, 2007 Jan. 2, 2008
Dec. 31, 2007, and Jan. 2, 2008 Cash next day
Jan. 3, 2008 Cash same day
1. All trades on Dec. 28, 2007, will be for special settlement on Jan. 2, 2008. These trades will appear on the CDS settlement report and will be recorded with a settlement date of Jan. 2, 2008.
2. All trades on Dec. 31, 2007, and Jan. 2, 2008, will trade for cash settlement the following business day. Trades on Jan. 3, 2008, from the open to noon will be for same-day cash settlement.
3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.
4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Investors should contact their broker for information or advice on their investment.
Global 45 Split rights offering
2007-11-06 18:07 MT - Rights Offering
TSX bulletin 2007-1571
Rights symbol: GFV.RT
Cusip number for rights: 379345 11 9
Shareholder entitlement: One right for each Class A share held on the record date
Terms of the rights: Three rights plus $24.40 per unit, each unit consisting of one Class A share and one preferred share.
Expiry time: 4 p.m. (Toronto time) on Dec. 7, 2007
Ex rights date: Nov. 8, 2007
Record date: Nov. 13, 2007
Designated market-maker: W.D. Latimer Co. Ltd.
Additional information on the rights offering may be found in the company's short form prospectus dated Oct. 31, 2007, which is available at www.sedar.com. Capitalized terms used but not otherwise defined are as defined in the prospectus.
Holders of Class A shares of Global 45 Split Corp. of record as of the close on Nov. 13, 2007, will be granted rights to subscribe for and purchase units. Each holder of Class A shares at the close on the record date is entitled to receive one right for each Class A share held. Three rights entitle the holder thereof to purchase one unit, each unit consisting of one Class A share and one preferred share of the company, at a price of $24.40 per unit on or before 4 p.m. (Toronto time) on Dec. 7, 2007.
The Class A shares of the company will commence trading on an ex rights basis at the open on Nov. 8, 2007, at which time the rights will be posted for trading on a when-issued basis. Except as otherwise provided in the prospectus, the rights will be issued in book-entry-only form. On the record date, the company will cause one or more global rights certificates to be delivered to, and registered in the name of, CDS Clearing and Depository Services Inc. or its nominee. No holder of rights will be entitled to a certificate or other instrument from the company or CDS evidencing that holder's ownership of rights, and no holder of rights will be shown on the records maintained by CDS except through a book-entry account of a CDS participant acting on behalf of such holder. The company expects that each shareholder will receive a confirmation of the number of rights owned from its respective CDS participant in accordance with the practices and procedures of that CDS participant. CDS participants include securities brokers and dealers, banks and trust companies. CDS will be responsible for establishing and maintaining book-entry accounts for its participants holding rights.
A subscriber may subscribe for units by instructing the CDS participant holding the subscriber's rights to exercise all or a specified number of such rights and forwarding the subscription price for each unit subscribed for to the CDS participant which holds the subscriber's rights. Each holder of rights who has initially subscribed for all of the units to which such holder is entitled pursuant to the basic subscription privilege may subscribe for additional units, if available, at a price equal to the subscription price for each additional unit. The number of additional units available for all additional subscriptions will be the difference, if any, between the number of units issuable upon exercise of rights and the total number of units subscribed for pursuant to the basic subscription privilege at the expiry time (the additional subscription privilege). Subscription for additional units will be received subject to allotment only. If any holder of rights has subscribed for fewer additional units than such holder's pro rata allotment of additional units, the excess additional units will be allotted in a similar manner among the holders who were allotted fewer additional units than they subscribed for. To apply for additional units under the additional subscription privilege, shareholders must forward their request to a CDS participant prior to the expiry time. Payment for additional units, in the same manner as for the basic subscription privilege, must accompany the request when it is delivered to the CDS participant. Shareholders that wish to acquire units pursuant to this offering, must provide the CDS participant holding their rights with instructions and the required payment sufficiently in advance of the expiry time to permit the proper exercise of their rights. CDS participants will have an earlier deadline for receipt of instructions and payment.
Fractional units will not be issued upon the exercise of rights. Each shareholder holding a number of rights not evenly divisible by three will be required to round down its subscription to the next lowest number of units.
This offering is made in Canada and not in the United States or any territory or possession thereof. Accordingly, neither a subscription nor an application for units will be accepted from any person, or his agent, who appears to be, or who the company has reason to believe is, a citizen or resident of the U.S. or its territories or possessions. The CDS participant(s) for U.S. shareholders may, prior to the expiry date, attempt to sell the rights allotable to such U.S. shareholders at the price or prices it determines in its sole discretion. Any proceeds received by the CDS participant(s) with respect to such rights will be delivered by the CDS participant(s) mailing cheques in Canadian funds, as soon as practicable to such U.S. shareholders at their last recorded addresses or held for the account of such shareholder as the shareholder may direct.
It is anticipated that the prospectus will be mailed to shareholders on or about Nov. 16, 2007.
The company has retained National Bank Financial Inc. as dealer manager to form a soliciting dealer group in which members of the Investment Dealers Association of Canada, the Toronto Stock Exchange and the TSX Venture Exchange will be invited to join for the purpose of soliciting subscriptions for the units offered under the offering. Under this agreement the dealer manager has agreed to facilitate the exercise of the rights and the subscription for units. In consideration for such services, the company has agreed to pay the dealer manager a fee of $100,000 and a fee of 10 cents for each unit issued under the offering. The company has also agreed to pay a subscription fee of 30 cents per unit in respect of each subscription procured by a member of the soliciting dealer group (including the dealer manager).
Trading and settlement rules
Trade dates Settlement dates
Dec. 4, 2007 Dec. 6, 2007
Dec. 5, 2007, and Dec. 6, 2007 Cash next day
Dec. 7, 2007 Cash same day
1. All trades on Dec. 4, 2007, will be for special settlement on Dec. 6, 2007. These trades will appear on the CDS settlement report and will be recorded with a settlement date of Dec. 6, 2007.
2. All trades on Dec. 5, 2007, and Dec. 6, 2007, will trade for cash settlement the following business day. Trades on Dec. 7, 2007, from the open to noon will be for same-day cash settlement.
3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.
4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable.
Investors should contact their broker for information or advice on their investment.
Real Time Amends Expiry Date of Rights Offering to December 5, 2007
16:36 EDT Friday, September 14, 2007
CALGARY, ALBERTA--(Marketwire - Sept. 14, 2007) - Real Time Measurements Inc. (TSX VENTURE:RTY) ("RTM") Mr. Terry Matthews, President of RTM, announces that the expiry date of RTM's previously announced rights offering (announced on CCN Matthews on September 7, 2007) has been changed from December 17, 2007 to December 5, 2007. All other terms and conditions have remained the same. Please refer to RTM's Rights Offering Circular dated September 13, 2007 available on www.sedar.com.
Further information can be viewed on the company web site at: www.rty.ca.
Terry Matthews - President, CEO, Director
Try putting in the symbol and instead of .un change it to .rt.
Some have it BDA-UN.TO and if thats the case then you should put in BDA-RT.TO. Its the same in the case of the warrants. Add .wt to the end of the symbol and in the case of the symbols that have the extension .UN change the .UN to .WT or .RT. :)
How do i go about looking up the stock. Im new to rights/warrants so I cant see them on my streamer. Any help :)
First Asset/BlackRock NA Dividend rights offering - BDA.RT
2007-10-24 15:37 MT - Rights Offering
TSX bulletin 2007-1492
Rights symbol: BDA.RT
Rights Cusip No.: 31862R 11 0
Unitholder entitlement: One right for each unit held on the record date
Terms of the rights: Four rights and $9 per unit.
Expiration time: 4 p.m. (local time), Nov. 22, 2007
Ex rights date: Oct. 26, 2007.
Record date: Oct. 30, 2007
Designated market-maker: Jitney Group Inc.
Additional information on the rights offering may be found in the fund's rights offering circular dated Oct. 18, 2007, which is available at www.sedar.com.
Holders of units of First Asset/BlackRock North American Dividend Achievers Trust of record as at the close on Tuesday, Oct. 30, 2007, will be granted transferable rights to subscribe for and purchase additional units of the fund. Each holder of units at the close on the record date is entitled to receive one right for each unit held. Four rights entitle the holder thereof to purchase one unit at a price of $9 per unit on or before 4 p.m. (local time at the place of exercise) on Nov. 22, 2007. The units of the fund will commence trading on an ex rights basis at the open on Friday, Oct. 26, 2007, at which time the rights will be posted for trading on a when-issued basis. Trading in the rights will cease at noon (Toronto time) on Nov. 22, 2007. Except as in certain circumstances, the rights will be issued in book-entry-only form. On the record date, the fund will cause one or more global rights certificates to be delivered to, and registered in the name of, CDS Clearing and Depository Services Inc. or its nominee. No holder of rights will be entitled to a certificate evidencing that holder's ownership of rights. The fund expects that each unitholder will receive a confirmation of the number of rights owned from its respective CDS participant in accordance with the practices and procedures of that CDS participant. CDS will be responsible for establishing and maintaining book-entry accounts for its participants holding rights.
A subscriber may subscribe for units by instructing the CDS participant holding the subscriber's rights to exercise all or a specified number of such rights and concurrently forwarding the subscription price for each unit subscribed for to the CDS participant which holds the subscriber's rights. Subscribers wishing to subscribe for additional units under the additional subscription privilege must forward their request to their CDS participant prior to the expiration time, along with the payment for the additional units requested. Unitholders must provide the CDS participant holding their rights with instructions sufficiently in advance of the expiration time to permit the proper exercise of their rights. CDS participants will have an earlier deadline for receipt of instructions.
Each holder of rights who has initially subscribed for all of the units to which such holder is entitled pursuant to the basic subscription privilege has the right to subscribe for additional units, if available, at the price equal to the subscription price for each additional unit (collectively, the additional units). The number of additional units available for all additional subscriptions will be the difference, if any, between the number of units issuable upon exercise of rights and the total number of units subscribed for pursuant to the basic subscription privilege at the expiration date (the additional subscription privilege). Subscription for additional units will be received subject to allotment only. If any holder of rights has subscribed for fewer additional units than such holder's pro rata allotment of additional units, the excess additional units will be allotted in a similar manner among the subscribers who were allotted fewer additional units than they subscribed for. This offering is made in Canada and not in the United States or any territory or possession thereof. Accordingly, neither a subscription nor an application for additional units will be accepted from any person, or his agent, who appears to be, or who the fund has reason to believe is, a national or resident of the U.S. or its territories or possessions. The CDS participant(s) for U.S. unitholders may, prior to the expiration date, attempt to sell the rights allottable to such U.S. unitholders at the price or prices it determines in its sole discretion. Any proceeds received by the CDS participant(s) with respect to such rights will be delivered by the CDS participant(s) mailing cheques in Canadian funds, as soon as practisable, to such U.S. unitholders at their last recorded addresses or held for the account of such unitholder as the unitholder may direct.
It is anticipated that the circular will be mailed to unitholders on or about Oct. 31, 2007.
The circular discloses that the fund has engaged National Bank Financial Inc. to form a soliciting dealer group to solicit the exercise of the rights. In consideration for such services, the fund has agreed to pay the dealer manager a fee of $100,000 plus a fee of five cents for each unit issued pursuant to the offering. The fund has also agreed to pay a subscription fee of 12 cents per unit in respect of each subscription procured by a member of the soliciting dealer group (including the dealer manager).
Trading and settlement rules
Trade dates Settlement dates
Nov. 19, 2007 Nov. 21, 2007
Nov. 20, 2007, and Nov. 21, 2007 Cash next day
Nov. 22, 2007 Cash same day
1. All trades on Nov. 19, 2007, will be for special settlement on Nov. 21, 2007. These trades will appear on the CDS settlement report and will be recorded with a settlement date of Nov. 21, 2007.
2. All trades on Nov. 20 and Nov. 21, 2007, will trade for cash settlement the following business day. Trades on Nov. 22, 2007, from the open to noon will be for same-day cash settlement.
3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.
4. Should fail positions exist on the expiration date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Reference should be made to Rule 5-303.
Such demand shall be made before 4 p.m. on Nov. 22, 2007.
Investors should contact their brokers for information or advice on their investment.
Citadel Premium arranges rights offering
2007-10-12 15:24 MT - News Release
Mr. Joe MacDonald reports
CITADEL PREMIUM INCOME FUND NOTICE OF RIGHTS OFFERING
Citadel Premium Income Fund is issuing rights to subscribe for trust units to holders of its trust units of record at the close of business on Oct. 23, 2007. Each holder of trust units is entitled to one right for each trust unit held on the record date. Four rights will entitle the holder to purchase one trust unit of the trust at a price of $9.50 per trust unit until 4 p.m. local time at the place of exercise on Nov. 20, 2007. The subscription price of $9.50 per trust unit represents a discount to the trust's net asset value of $11.01 per trust unit on Oct. 10, 2007, of 13.7 per cent.
The reason for the offering is to provide the trust with additional capital that can be used to capitalize on certain attractive investment opportunities that the trust's investment manager has identified and foresees arising over the next few months. The investment manager has identified a number of attractive investment opportunities, which it is restrained from pursuing, with the trust currently being 21.5 per cent leveraged. By raising additional cash through this offering, the investment manager will be able to continue pursuing investment opportunities that it considers attractive, while allowing the trust to become less leveraged in the short term.
If all of the rights are exercised, the trust will issue 9,468,337 trust units and receive net proceeds of approximately $89.7-million. The Toronto Stock Exchange has approved the listing of the rights, which are expected to commence trading on Oct. 19, 2007, under the symbol of CPF.RT.
TD Securities Inc. will act as dealer manager to form a facilitating dealer group to solicit subscriptions for the clients.
We seek Safe Harbor.
Euro Ressources rights offering
2007-09-28 18:40 MT - Rights Offering
TSX bulletin 2007-1395
ISIN for rights: FR001052 62 4 4
Shareholder entitlement: One right for each common share held on the record date
Terms of the rights: Five rights plus 0.75 euro for one additional common share
Expiry time: 4 p.m. (Paris time), Nov. 2, 2007
Ex rights date on the Toronto Stock Exchange: Oct. 3, 2007
Record date: Oct. 8, 2007
Additional information is contained in the rights offering circular dated Sept. 25, 2007, which is available at www.sedar.com. Terms not otherwise defined, are as defined therein.
Holders of common shares of record as of the close on Monday, Oct. 8, 2007, will be granted the right to subscribe for one common share of the company for every five common shares held on such record date at a subscription price of 0.75 euro per common share. The rights will not be traded on the TSX. The rights will be traded on the Euronext Paris. No certificates representing the rights will be issued. Rather, the company's master register, which is maintained in Paris, will be amended to reflect that each registered holder of common shares will also hold the equivalent number of rights on the record date. Persons who beneficially own common shares and whose names do not appear on the master register should contact their stockbroker, investment dealer, intermediary or the registered shareholder for instructions. The rights will expire at 4 p.m. (Paris time) on Nov. 2, 2007.
The common shares will commence trading on an ex rights basis on the TSX at the open on Wednesday, Oct. 3, 2007.
The circular discloses that in order to trade rights through Euronext Paris, a holder of rights resident in Canada should contact their Canadian investment dealer or stockbroker to make arrangements to effect such a trade and settlement. The company makes no representations to holders of rights resident in Canada that they will be able to effect and settle any such trade in a timely manner or that the brokerage and other fees associated with such trade will not be prohibitively expensive.
The circular also discloses that under French corporate law, there is a minimum condition that at least 75 per cent of the rights be exercised in order for any offered shares to be issued. In the event this condition is not satisfied, the subscription proceeds will be returned in full to each exercising holder of rights. Based on commitments received from third parties, the company expects this minimum condition will be satisfied.
Holders of rights may subscribe for common shares by completing and delivering the rights exercise form (Form 1) and the total applicable subscription price for such offered shares to the subscription agent at any of its offices set out in the circular.
A holder of rights who has fully exercised all of the rights granted to them will be entitled to subscribe for additional common shares, if available, at a price of 0.75 euro per share, by completing Form 2, as well as Form 1 and delivering such certificate and payment of the subscription price for each additional common share subscribed for to the subscription agent. If the total number of common shares subscribed for under the additional subscription privilege exceeds the number of shares available, the available shares will be allotted on a pro rata basis. If a participant in the additional subscription privilege is allotted a number of shares less than the number specified in Form 2 by such subscriber, the subscription agent will refund, without interest, the excess of the total subscription price paid by such participant. Fractional common shares will not be issued upon the exercise of rights. Where the exercise of rights would appear to entitle a holder of rights to receive fractional common shares, the holder's entitlement will be reduced to the next lowest whole number of common shares.
It is anticipated that the circular with applicable forms will be mailed to shareholders on or about Oct. 8, 2007.
Pursuant to an agreement dated June 15, 2007, Golden Star Resources Ltd. has agreed to subscribe for up to $5-million (U.S.) of the remaining offered shares not otherwise subscribed for at the expiry time, subject to certain conditions. Pursuant to an agreement dated Sept. 21, 2007, Macquarie Bank Ltd. has agreed to subscribe for up to 500,000 of the remaining offered shares not otherwise subscribed for at the expiry time, subject to certain conditions.
Investors should contact their brokers for information or advice on their investments.
Raimount Energy rights offering
2007-09-20 14:15 MT - Rights Offering
Raimount Energy Inc. has announced it will offer to shareholders of record on Oct. 2, 2007, rights to purchase shares of the company. One right will be issued for each share held. Five rights and $1.10 are required to purchase one share. The expiry date for the rights offering is Oct. 23, 2007. As at Sept. 14, 2007, the company had 2,479,458 shares issued and outstanding.
Effective at the opening on Friday, Sept. 28, 2007, the shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a oil and gas extraction company.
Summary
Basis of offering: Five rights exercisable for one share at $1.10 per share.
Record date: Oct. 2, 2007
Shares trade ex rights: Sept. 28, 2007
Rights called for trading: Sept. 28, 2007
Rights trade for cash: Oct. 19, 2007
Rights expire: Oct. 23, 2007
Rights trading symbol: RMT.RT
Rights Cusip No.: 75078P129
Subscription agent and trustee: Computershare Investor Services Inc.
Authorized jurisdiction(s): British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia
For further details, please refer to the company's rights offering circular dated Sept. 14, 2007.
The company's rights offering circular has been filed with and accepted by the British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia securities commissions pursuant to the provisions of the respective securities acts.
Pine Cliff Energy rights offering
2007-09-21 14:36 MT - Rights Offering
The company has announced it will offer to shareholders of record on Oct. 3, 2007, rights to purchase common shares of the company. One right will be issued for each share held. Four rights and $1.10 are required to purchase one share. The expiry date for the rights offering is Oct. 25, 2007. As at Sept. 13, 2007, the company had 36,913,041 shares issued and outstanding.
Effective at the opening on Monday, Oct. 1, 2007, the shares of the company will trade ex rights and the rights will commence trading at that time on a when-issued basis. The company is classified as an oil and gas exploration company.
Summary
Basis of offering: four rights exercisable for one share at $1.10 per share
Record date: Oct. 3, 2007
Shares trade ex rights: Oct. 1, 2007
Rights called for trading: Oct. 1, 2007
Rights trade for cash: Oct. 23, 2007
Rights expire: Oct. 25, 2007
Rights trading symbol: PNE.RT
Rights Cusip No.: 722524 12 1
Subscription agent and trustee: Olympia Trust Company
Authorized jurisdiction(s): British Columbia, Alberta, Saskatchewan, Manitoba, Ontario
For further details, please refer to the company's rights offering circular dated Sept. 13, 2007.
The company's rights offering circular has been filed with and accepted by the British Columbia, Alberta, Saskatchewan, Manitoba and Ontario securities commission pursuant to the provisions of the British Columbia, Alberta, Saskatchewan, Manitoba and Ontario securities act.
Hosted Data Transaction rights offering
2007-09-12 18:46 MT - Rights Offering
TSX bulletin 2007-1303
Rights symbol: HDX.RT
Cusip No. for rights: 44109B 11 1
Shareholder entitlement: One right for each Class A voting common share held on the record date.
Terms of the rights: Six rights plus 80 cents for one unit
Expiry time: 5 p.m. (Toronto time), Oct. 11, 2007
Ex rights date: Sept. 14, 2007
Record date: Sept. 18, 2007
Designated market-maker: Dundee Securities Corp.
Holders of Class A voting common shares of Hosted Data Transaction Solutions Inc. of record as of the close on Sept. 18, 2007, will be granted the right to subscribe for one unit of the company for each six common shares held on such record date at a subscription price of 80 cents per unit. Each unit will comprise one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.25 per share at any time until 5 p.m. (Toronto time) on the date that is the earlier of:
1. Aug. 3, 2009;
2. The 10th day after the day on which the company gives notice to the holders of the warrants that the common shares trade at a closing market price on Toronto Stock Exchange of greater than $1.75 per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing of the rights offering.
The rights are evidenced by transferable rights certificates registered in the names of holders of common shares of record on the record date on the basis of one right for each common share held, six rights and the sum of 80 cents being required to subscribe for one unit. The rights will expire at 5 p.m. (Toronto time) on Oct. 11, 2007. The common shares and warrants comprising the units will separate immediately upon issue. The common shares will commence trading on an ex distribution basis at the open on Friday, Sept. 14, 2007, at which time the rights will be posted for trading on a when-issued basis.
The warrants will not be listed on the TSX.
The offering of rights is being made to each holder of common shares of record on the record date with an address in any of the provinces in Canada. Rights certificates will not be forwarded to shareholders who are not residents of any of the provinces of Canada. The company will notify ineligible shareholders that the rights certificates to which they are entitled will be issued to and held by Equity Transfer & Trust Co. as agent for the benefit of such shareholders. Equity Transfer will use its best efforts to sell the rights evidenced by the rights certificates, and the proceeds from the sale of such rights net of any applicable costs and expenses will be paid to the ineligible shareholders on a pro rata basis by cheque.
Holders of rights certificates may subscribe for units by completing Form 1 on the certificate and delivering it together with payment of 80 cents per unit subscribed for to the principal office of Equity Transfer in Toronto so as to be received there prior to the expiry time. The company will not issue fractional common shares comprising the units upon the exercise of rights. Where the issuance of rights would appear to entitle the holder of rights to fractional common shares comprising the units, the holder's entitlement will be reduced to the next lowest whole number of common shares. The company will not issue fractional warrants upon the exercise of rights. Where the issuance of rights would appear to entitle the holder of rights to fractional warrants, the holder's entitlement will be reduced to the next lowest whole number of warrants.
A holder of a rights certificate who has fully exercised all of the rights evidenced by such certificate will be entitled to subscribe for additional units, if available, at a price of 80 cents per unit, by completing Form 2 as well as Form 1 on the rights certificate and forwarding such certificate to Equity Transfer as indicated above so as to be received there prior to the expiry time, together with payment for each unit subscribed for under the basic subscription right as well as for each unit sought under the additional subscription privilege. If the total number of units subscribed for under the additional subscription privilege exceeds the number of units available, the available units will be allotted on a pro rata basis. If a participant in the additional subscription privilege is allotted a number of units less than the number specified in Form 2 by such subscriber, Equity Transfer will refund the excess of the total subscription price paid by such participant.
It is anticipated that the rights offering circular and the rights certificates will be mailed to shareholders on or about Sept. 20, 2007. The rights offering circular discloses that, although the company has not retained a managing dealer or a soliciting dealer group for the purpose of soliciting the exercise of rights, the company will pay a subscription fee of four cents for each unit issued under this rights offering in respect of each subscription procured by a registered dealer, provided that such registered dealer procures subscriptions for at least 6,250 units, and that the registered dealer submits to Equity Transfer the participants' list prior to the expiry time of the rights offering.
Mandatory trading and settlement rules
Trade dates Settlement dates
Oct. 5, 2007 Oct. 10, 2007
Oct. 9, 2007, and Oct. 10, 2007 Cash next day
Oct. 11, 2007 Cash same day
1. All trades on Oct. 5, 2007, will be for special settlement on Oct. 10, 2007. These trades will appear on the CDS settlement report and will be recorded with a settlement date of Oct. 10, 2007.
2. All trades on Oct. 9, 2007, and Oct. 10, 2007, will trade for cash settlement the following business day. Trades on Oct. 11, 2007, from the open to noon will be for same-day cash settlement.
3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.
4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Reference should be made to Rule 5-303. Such demand shall be made before 4 p.m. on the expiry date of Oct. 11, 2007.
Investors should contact their broker for information or advice on their investment.
Public Storage receives approval for rights offering
2007-09-10 17:58 MT - News Release
Mr. David Singelyn reports
PUBLIC STORAGE CANADIAN PROPERTIES ANNOUNCES DETAILS OF RIGHTS OFFERING
Canadian Mini-Warehouse Properties Co., the general partner of Public Storage Canadian Properties, has received all necessary approvals from Canadian securities regulators and the Toronto Stock Exchange for its previously announced rights offering.
The rights offering will provide the existing holders of the units of the partnership that are qualifying persons (as defined below) with the right to purchase additional units in the partnership. Assuming all the rights are exercised, the rights offering is expected to raise net proceeds of approximately $36.4-million, which the partnership intends to use to reduce amounts outstanding under the partnership's credit facility and to finance the acquisition and development of additional properties.
Unitholders of record as at the close of business on Sept. 18, 2007, will receive one right for each unit held. Rights will be evidenced by fully transferable certificates which will be issued in registered form. A rights offering circular will be mailed along with the rights certificates to registered unitholders on or around Sept. 20, 2007.
The partnership's limited partnership agreement restricts the ownership of units to persons who are qualifying persons defined as any person that:
1. Is not a non-resident for the purposes of the Income Tax Act (Canada);
2. Is not a person, an interest in which would be a tax shelter investment as defined in the tax act;
3. If a partnership, is a Canadian partnership under the tax act.
A holder of rights that is a qualifying person is entitled to subscribe for units at a price of $20.25 per unit for every four rights held at any time up to the expiry of the rights at 4 p.m. (Toronto time) on Oct. 12, 2007. Rightsholders may only subscribe for whole units. No fractional units will be issued.
Unitholders that exercise all of the rights as evidenced by their rights certificates may also subscribe for additional units that may be available as a result of unexercised rights. Unitholders should refer to their rights certificate and the rights offering circular for additional information with respect to subscribing for additional rights.
Unitholders may exercise their rights by forwarding the completed rights certificate along with the applicable funds to CIBC Mellon Trust Co. CIBC Mellon must receive the rights certificates and the required funds by 4 p.m. on Oct. 12, 2007.
The rights will be listed and posted for trading on the TSX under the symbol PUB.RT and unitholders who do not wish to exercise their rights may sell them on the TSX.
Unitholders requiring additional information with respect to the rights offering may refer to the copy of the circular which has been filed on SEDAR.
Real Time to issue one right per share
2007-09-07 14:29 MT - Rights Offering
Real Time Measurements Inc. will offer to shareholders of record at Sept. 18, 2007, rights to purchase shares of the company. One right will be issued for each share held. Six rights and 28 cents are required to purchase one unit, each unit consisting of one share and one-half share purchase warrant. The rights offering will expire on Dec. 17, 2007. One share purchase warrant and 43 cents entitle the buyer to purchase one share of the company up to 12 months after closing of the offering. As at Sept. 6, 2007, the company had 25,374,406 shares issued and outstanding.
Effective at the opening on Friday, Sept. 14, 2007, the shares of the company will trade ex rights, and the rights will commence trading at that time on a when-issued basis. The company is classified as an oil and gas enhancement technology company.
Summary
Basis of offering: six rights exercisable for one unit at 28 cents per unit
Record date: Sept. 18, 2007
Shares trade ex rights: Sept. 14, 2007
Rights called for trading: Sept. 14, 2007
Rights trade for cash: Dec. 15, 2007
Rights expire: Dec. 17, 2007
Rights trading symbol: RTY.RT
Rights Cusip No.: 75602T118
Subscription agent and trustee: Computershare Investor Services Inc.
Authorized jurisdictions: Alberta, British Columbia
A TSX Venture Exchange bulletin will be issued to list and trade the share purchase warrants upon expiry of the rights offering and evidence that satisfactory distribution has been filed with the exchange.
For further details, please refer to the company's rights offering circular dated Sept. 6, 2007.
The company's rights offering circular has been filed with and accepted by the Alberta and British Columbia securities commission pursuant to the provisions of their respective securities acts.
Aberdeen Asia-Pacific provides portfolio composition
Aberdeen Asia-Pacific Income Investment Company Ltd (C:FAP)
Shares Issued 49,686,757
Last Close 8/15/2007 $7.43
Friday August 17 2007 - News Release
An anonymous director reports
ABERDEEN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED ANNOUNCES UPDATED PORTFOLIO COMPOSITION
Aberdeen Asia-Pacific Income Investment Company Ltd. has provided its updated portfolio composition as of Aug. 16, 2007. While the underlying securities have remained largely unchanged since the last performance report for the period ending June 30, 2007, a hedging program has been implemented over the last two weeks to help reduce the volatility of the company's net asset value. Please see attached for the updated portfolio composition.
Shareholders are reminded the rights previously distributed in connection with the company's rights offering expire at 4 p.m. on Aug. 21, 2007.
PORTFOLIO AS OF AUG. 16, 2007
Currency exposure(%) Geographic exposure(%)
Australia 35.1 39.9
New Zealand 0.2 1.9
Canada 6.2 -
United States 33.1 4.2
Mexico 1.6 1.6
South Korea 4.5 4.7
Singapore 3.6 1.4
Thailand 1.4 1.0
Philippines 1.3 17.6
Malaysia 4.1 4.1
India 3.3 2.2
China - 1.5
Hong Kong - 4.0
Indonesia 5.6 15.0
Taiwan - 0.4
Vietnam - 0.1
Pakistan - 0.4
© 2007 Canjex Publishing Ltd.
Aberdeen Asia-Pacific declares 6.0-cent distribution
Aberdeen Asia-Pacific Income Investment Company Ltd (C:FAP)
Shares Issued 49,670,757
Last Close 8/13/2007 $7.51
Tuesday August 14 2007 - News Release
An anonymous director reports
ABERDEEN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED ANNOUNCES MONTHLY DISTRIBUTION
Aberdeen Asia-Pacific Income Investment Company Limited will pay a monthly distribution of 6.0 cents per ordinary share on Sept. 14, 2007, to all ordinary shareholders of record as of Aug. 31, 2007 (ex distribution date Aug. 29, 2007).
For the 12 months to July 31, 2007, the company has paid total distributions amounting to 72.0 cents per ordinary share.
© 2007 Canjex Publishing Ltd.
Northcore Technologies loses $590,000 in Q2 2007
Northcore Technologies Inc (C:NTI)
Shares Issued 86,895,798
Last Close 8/13/2007 $0.09
Tuesday August 14 2007 - News Release
Mr. Duncan Copeland reports
NORTHCORE REPORTS SECOND QUARTER 2007 RESULTS
Northcore Technologies Inc. has released its interim financial results for the second quarter ended June 30, 2007.
Northcore reported consolidated second quarter revenues of $285,000, a decrease of 11 per cent from the $322,000 the company generated in the first quarter of 2007, and an improvement of 68 per cent over the $170,000 that company produced in the second quarter of 2006. Northcore derives its revenues through fees from application hosting activities provided to customers, the sale of software licences, and the delivery of application development, software customization and other technology services.
"Despite a 6-per-cent revenue increase in our North America business unit over the first quarter results, I'm disappointed with our overall performance in the second quarter, which was hurt by the strengthening Canadian dollar and a decline in royalty fee payments from our relationship with ADB Systemer," said Duncan Copeland, chief executive officer of Northcore Technologies. "The North America revenue growth was driven from the services component of our offerings. These application development and software customization projects provide a steadily growing revenue stream and continued strengthening of our relationships with key customers such as GE. Our focus, however, needs to be on product sales."
As was announced recently (see news issued in Stockwatch), Duncan Copeland was named chief executive officer of Northcore Technologies effective July 12, 2007. As part of the same management restructuring, James Moskos was appointed chief operating officer.
"Jim Moskos and his team have built a proven set of tools for buying, selling and managing industrial assets that have allowed Northcore to build a trusted relationship with GE," said Mr. Copeland. "And as the importance of corporate infrastructure quickly ascends to the forefront of senior management attention everywhere, I'm confident that our strengths in asset optimization and helping our customers control their infrastructure will meet this need."
Northcore reported a net loss for the second quarter of $590,000 or one cent per share, basic and diluted. This compares with a net loss of $550,000 or one cent per share, basic and diluted, in the first quarter of 2007. In the second quarter of 2006, Northcore reported a net gain of $1.04-million or one cent per share basic and diluted. This total included income from discontinued operations of $1.92-million, resulting from the sale of the company's Norway business unit. As has been reported previously (see news issued in Stockwatch), the company sold its Norway business unit for $2.69-million in cash and debt settlement effective June 30, 2006.
Northcore also reported an EBITDA (earnings before interest, taxes, depreciation and amortization) loss in the second quarter of 2007 of $419,000. This compares with an EBITDA loss of $368,000 in the first quarter of 2007 and an EBITDA loss of $607,000 in the second quarter of 2006.
EBITDA loss is defined as losses before interest, taxes, depreciation, amortization, employee stock options and discontinued operations. Northcore considers EBITDA to be a meaningful performance measure as it provides an approximation of operating cash flows.
As at June 30, Northcore held cash and cash equivalents of $44,000, and accounts receivable of approximately $237,000.
Subsequent to the close of the second quarter, Northcore announced that it will raise working capital through a rights offering to all eligible shareholders of the company's common stock. The rights offering expires at 4 p.m. Eastern Time on Aug. 22, 2007.
Operating highlights
Northcore completed the following customer and operating activities in the period:
Northcore's joint venture with GE successfully conducted a sales and marketing event for a major transportation equipment leasing company.
Northcore's joint venture with GE signed a memorandum of understanding with a Fortune 500 organization to provide asset disposition services that will facilitate the sale and marketing of third party owned equipment.
The company signed a three-year application hosting agreement with a leading Fortune 500 company to provide Web-based capabilities for asset disposition, asset tracking and asset appraisal.
The company completed a private placement, issuing a new Series K subordinated notes with a face amount of $1.36-million to existing holders of Series G notes. In addition, Northcore completed a private placement issuance of 2.99 million common shares in consideration of the $449,000 Series G accrued debt interest.
The company received operating loans from a private investor in the amount of $280,000.
Outlook
"I'm very excited about our future. The recent management changes provide us an opportunity to better focus our strategic direction," said Mr. Copeland. "The core of our activities will continue to be devoted to supporting our joint venture with GE, combined with an increased effort on product sales and a further expansion of our services revenues on a stable expense base. As a result, we can expect improved financial and operational results in the periods to come."
Northcore will hold a conference call at 10 a.m. (Eastern Time) on Wednesday, Aug. 15, to discuss its financial results and review operational activities. Investors and followers of the company can listen to a live broadcast of the call from the investor relations section of the company's website.
CONSOLIDATED STATEMENTS OF OPERATIONS
(thousands of dollars, except per share amounts)
Three months ended Six months ended
June 30, June 30,
2007 2007 2006 2007 2007 2006
($C) ($US) ($C) ($C) ($US) ($C)
Revenue $ 285 $ 268 $ 170 $ 607 $ 571 $ 541
------- ------- ------- ------- ------- -------
Operating
expenses
General and
administrative 448 421 498 895 842 940
Customer
service and
technology 178 168 159 350 329 325
Sales and
marketing
costs 78 73 120 149 140 256
Employee stock
options 6 6 37 13 12 72
Depreciation
and amortization 10 9 20 19 18 45
------- ------- ------- ------- ------- -------
Total
operating
expenses 720 677 834 1,426 1,341 1,638
------- ------- ------- ------- ------- -------
(Loss) from
operations (435) (409) (664) (819) (770) (1,097)
------- ------- ------- ------- ------- -------
Interest expense
Cash interest
expense 67 63 93 131 123 200
Accretion of
secured
subordinated
notes 88 83 123 191 180 268
Interest income - - (5) (1) (1) (5)
------- ------- ------- ------- ------- -------
155 146 211 321 302 463
------- ------- ------- ------- ------- -------
(Loss) from
continuing
operations (590) (555) (875) (1,140) (1,072) (1,560)
Income from
discontinued
operations - - 1,918 - - 2,123
------- ------- ------- ------- ------- -------
Net income
(loss) for the
period (590) (555) 1,043 (1,140) (1,072) 563
------- ------- ------- ------- ------- -------
Other
comprehensive
income, net
of tax
Foreign
currency
translation
adjustment - - - - - 17
------- ------- ------- ------- ------- -------
Comprehensive
income (loss) $ (590) $ (555) $ 1,043 $(1,140) $(1,072) $ 580
======= ======= ======= ======= ======= =======
Earnings (loss)
per share
From
continuing
operations,
basic and
diluted $ (0.01) $ (0.01) $ (0.01) $ (0.01) $ (0.01) $ (0.02)
======= ======= ======= ======= ======= =======
Net earnings
(loss) per
share, basic
and diluted $ (0.01) $ (0.01) $ 0.01 $ (0.01) $ (0.01) $ 0.01
======= ======= ======= ======= ======= =======
© 2007 Canjex Publishing Ltd.
oh nice..i am down in the sw in calgary down iin bridlewood...add me on msn if ya like aj_Coolj@hotmail.com
Closer to Airdrie than Okotoks.. lol... how about you?
HEY WASSUP..FINALLY SOMEONE FROM CALGARY...WHERE IN CALGARY
Intertape files prospectus covering rights offering
2007-08-10 04:26 MT - News Release
Mr. Melbourne Yull reports
INTERTAPE POLYMER GROUP FILES FINAL PROSPECTUS FOR MAXIMUM US$88 MILLION RIGHTS OFFERING TO SHAREHOLDERS
Intertape Polymer Group Inc. has filed a final short-form prospectus in each of the provinces of Canada for its previously announced rights offering to shareholders. If all of the rights are exercised, the company will receive gross proceeds of approximately $88-million (U.S.). The net proceeds from the rights offering will be used by the company to reduce its long-term debt.
As set out in the final prospectus, each shareholder of record at the close of business on Aug. 23, 2007, will be entitled to one right for every common share then held. A total of 1.6 rights will entitle the holder to purchase one common share at a price of $3.61 (Canadian) or, for subscribers resident in the United States, $3.44 (U.S.), prior to 5 p.m. (Montreal time) on Sept. 17, 2007. The subscription price for the rights offering is equal to the simple average of the closing price of Intertape's common shares on the Toronto Stock Exchange during the 20 trading days immediately preceding the day on which Intertape filed its final prospectus. Under an additional subscription privilege, holders of rights who fully exercise them will be entitled to subscribe for additional common shares, if available, that were not otherwise subscribed for in the rights offering.
The final prospectus will be mailed to shareholders of record on Aug. 23, 2007, and will be available on SEDAR.
If all of the rights are exercised, Intertape will issue 25,616,837 shares, representing an amount equal to 62.5 per cent of the 40,986,940 currently issued and outstanding shares.
In connection with the rights offering, Intertape has filed a registration statement with the United States Securities and Exchange Commission relating to the common shares to be issued pursuant to the rights offering.
Toronto Stock Exchange listing
The TSX has conditionally approved the listing of the rights. On Aug. 21, 2007, the rights will commence trading on the TSX under the trading symbol "ITP.RT" and the company's common shares will commence trading on an "ex rights" basis, meaning that persons purchasing common shares on or following that date will not be entitled to receive the related rights. The rights will remain listed and posted for trading until noon (Montreal time) on Sept. 17, 2007.
Standby purchase agreements
As previously announced, Intertape has entered into standby purchase agreements with each of Letko, Brosseau & Associates Inc., Wells Capital Management Inc. and Brandes Investment Partners LP, its three principal shareholders. Under these agreements, each has agreed to exercise rights and to purchase certain of the shares that are not otherwise subscribed for in the rights offering. The total commitment from the three principal shareholders to Intertape is $56.6-million (U.S.).
In addition, four of the company's current senior officers and one former senior officer have entered into a standby purchase agreement with the company pursuant to which they have agreed to exercise all of their rights, and to purchase certain of the shares that are not otherwise subscribed for in the rights offering. The total commitment from the five to Intertape is $6.0-million (U.S.). The five senior officers are Eric E. Baker, chairman of the board of directors, Melbourne F. Yull, executive director, Gregory A. Yull, president, distribution products, Andrew Archibald, CA, former chief financial officer, and Christopher J. Winn, secretary.
The commitments from the three principal shareholders and five senior officers of the company, which in the total amount to $62.6-million (U.S.), are subject to standard conditions.
To Intertape's knowledge, Letko, Brosseau & Associates Inc. exercises control or direction over 7,444,242 Intertape shares (18.16 per cent), Wells Capital Management, Inc. exercises control or direction over 6,807,041 shares (16.61 per cent), and Brandes Investment Partners LP exercises control or direction over 4,483,971 shares (10.94 per cent). The purchase of shares by the three principal shareholders pursuant to the rights offering may have a material effect on the control of Intertape, although to the company's knowledge, the three principal shareholders do not act in concert with respect to the company. If only the three principal shareholders and five senior officers acquire shares in the rights offering, as referred to above, the three principal shareholders will exercise control or direction over an aggregate of approximately 57.4 million shares, or 59.45 per cent of the then-outstanding shares of the company. The five senior officers do not own a material number of shares.
Pricing of rights offering
Staff Notice 2006-0004 of the TSX sets out that the TSX expects that securities offered by way of a rights offering be offered at a "substantial discount" to the "market price" of a listed company's shares on the TSX. The term "market price" is defined, in effect, as the closing price of the listed company's shares on the TSX on the day before the transaction. According to the TSX staff notice, in the absence of a significant discount and the presence of a "backstop" party (such as the company's three standby purchasers), the TSX is concerned that a listed issuer may be using a rights offering as a means to allow a backstop party to gain a significant interest in the listed issuer without obtaining shareholder approval. In the case of the company's rights offering, the TSX staff notice would require that the subscription price be similar to the closing price of the company's common shares on the TSX on the day preceding the day on which the final prospectus was filed ($2.52), less a discount of 15 per cent.
Under the TSX company manual, there is an exemption from the foregoing requirement, upon written application to the TSX, if the board of directors of a listed company adopts a resolution stating that: (i) the listed company is in serious financial difficulty; (ii) the application is made upon the recommendation of a committee of the board of directors whose members are free from any interest in the transaction and unrelated to the parties involved in the transaction; (iii) the transaction is designed to improve the financial situation of the listed company; and (iv) based on the determination of the committee of the board of directors, the transaction is reasonable for the listed company in the circumstances. The board of directors of the company has used this exemption, so as to avoid issuing shares at a significant discount to market price, which the board feels would be unduly dilutive for the company. The board of directors believes that the subscription price is reasonable and fair to all shareholders, as it is equal to the simple average of the closing price of Intertape's common shares on the TSX during the 20 trading days immediately preceding the day on which Intertape filed its final prospectus.
Accordingly, the board of directors has determined that the company is in serious financial difficulty, the rights offering is designed to improve the company's financial situation and, based upon the determination of a committee whose members are free from any interest in the rights offering, the rights offering is reasonable for the company in the circumstances.
We seek Safe Harbor.
FAP.RT got beaten down today to .015 cents on a volume of over 1 million shares, with over 2 weeks till the expiry date, anything could happen.
Good luck all the holders.:)
Aberdeen Asia-Pacific Income boasts 14.9% price return
Aberdeen Asia-Pacific Income Investment Company Ltd (C:FAP) Shares Issued 49,670,757 Last Close 7/30/2007 $7.93 Tuesday July 31 2007 - News Release
An anonymous director reports
ABERDEEN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED ANNOUNCES PERFORMANCE DATA AND PORTFOLIO COMPOSITION
Aberdeen Asia-Pacific Income Investment Company Ltd. today released performance data and portfolio composition details as of June 30, 2007.
The company's total returns for various periods through June 30, 2007, are provided in the attached table. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net of fees.)
Market price
Period NAV total return (%) total return (%)
Cumulative Annualized Cumulative Annualized
Since inception
(June, 1986) 471.6 8.7 430.2 8.3
10 years 48.3 4.0 40.0 3.4
Five years 32.9 5.9 42.7 7.4
Three years 11.0 3.5 20.2 6.3
One year 11.4 14.9
As of June 30, 2007, the company's net assets, including $130-million in bank borrowing, amounted to $540.8-million with a net asset value per share of $8.27.
As of June 30, 2007, 53.2 per cent of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better, or judged by the investment manager to be of equivalent quality. The credit quality and maturity breakdown of the portfolio was as follows:
As of June 30, 2007, the average maturity of the portfolio was 9.3 years.
A revolving credit loan facility, in the amount of $120-million, was entered into on Oct. 5, 2006, with the Bank of Nova Scotia, in order to finance the redemption of the company's auction market preferred stock (AMPS) that took place in October, 2006. In November, 2006, approximately 25 per cent of the loan was drawn in Canadian dollars in place of U.S. dollars. The leverage is used with the intent of enhancing returns by borrowing at interest rates that are lower than the relatively higher yields of the Asian-Pacific fixed income securities in which the company invests. The company has entered into interest rate swap agreements in order to fix the interest payable on a total notional amount of $76.8-million, which represents 64 per cent of the bank loan facility. Details regarding the revolving credit loan facility and the interest rate swap are contained in the company's annual and semi-annual reports to shareholders.
© 2007 Canjex Publishing Ltd.
PCS.RT has expired, it did not prove to be very good, ended up stuck with what I bought but at half a penny, it was worth the risk.:)
The Pup.
Considering the PCS.RT expires on Monday, this news comes a little too late.
Platinum Communications to settle $85.91-million debt
Platinum Communications Corp (C:PCS)
Shares Issued 31,746,911
Last Close 7/26/2007 $0.23
Friday July 27 2007 - News Release
Mr. Robert Matheson reports
PLATINUM COMMUNICATIONS CONFIRMS SHARE FOR DEBT EXCHANGE
Platinum Communications Corp. has entered into a debt settlement agreement with Glenbriar Technologies Inc. of Calgary to issue 390,538 common shares at 22 cents per share in settlement of debt obligations owed to Glenbriar of $85,918.22.
These obligations were incurred under a joint venture marketing agreement between the parties dated Jan. 27, 2006, which remains in full force and effect.
The last closing price for Platinum's common shares on the TSX Venture Exchange was 23 cents per share.
Closing is expected to be completed this week, subject to regulatory approval.
Robert D. Matheson is an officer, director and shareholder of both companies, and this settlement was approved by the disinterested directors of both companies.
© 2007 Canjex Publishing Ltd.
This is the most recent right to be announced and will start trading next week.
Uranium Focused Energy Fund rights offering
2007-07-25 18:53 MT - Rights Offering
TSX bulletin 2007-1064
Rights symbol: UF.RT
Rights Cusip No.: 917001 11 7
Unitholder entitlement: One right for each unit held on the record date
Terms of the rights: Three rights and $9.30 per unit
Expiry time: 4 p.m. (Toronto time), Aug. 29, 2007
Ex rights date: July 27, 2007
Record date: July 31, 2007
Designated market-maker: Orion Securities Inc.
Additional information on the rights offering may be found in the fund's rights offering prospectus dated July 18, 2007, which is available at www.sedar.com. Holders of units of Uranium Focused Energy Fund at the close (Toronto time) on Tuesday, July 31, 2007, will be granted transferable rights to subscribe for and purchase additional units of the fund. Each holder of units at the close on the record date is entitled to receive one right for each unit held. Three rights entitle the holder thereof to purchase one unit at a price of $9.30 per unit on or before 4 p.m. (Toronto time) on Aug. 29, 2007.
The units of the fund will commence trading on an ex rights basis at the open on Friday, July 27, 2007, at which time the rights will be posted for trading on a when-issued basis.
The rights will be evidenced by the fully transferable rights certificates which will be issued in registered form. For unitholders who hold their units in registered form, a rights certificate evidencing the number of rights to which a holder is entitled and the number of units which may be obtained on exercise of those rights will be mailed with a copy of the prospectus to each unitholder as of the record date. In order to exercise the rights evidenced by the rights certificate, the holder of rights must complete and deliver the rights certificate in accordance with the instructions set out thereon and in the prospectus.
Unitholders that hold their units through a CDS Clearing and Depository Services Inc. participant will not receive physical certificates evidencing their ownership of rights. On the record date, a global certificate representing such rights will be issued in registered form to, and in the name of, CDS or its nominee. The fund expects that each beneficial unitholder will receive a confirmation of the number of rights issued to it from its CDS participant in accordance with the practices and procedures of that CDS participant. CDS will be responsible for establishing and maintaining book-entry accounts for its participants holding rights. Unitholders who hold their units through a CDS participant must arrange purchases or transfers of rights through their CDS participant. It is anticipated by the fund that each such purchaser of a unit or right will receive a customer confirmation of issuance or purchase, as applicable, from the CDS participant through which such right is issued or such unit is purchased in accordance with the practices and policies of such CDS participant.
This offering is made in the provinces and certain territories of Canada only and not in the United States or any territory or possession thereof or other jurisdictions outside of Canada. This offering is not, and under no circumstances is to be construed as, an offering of any units for sale in the U.S. or any territory or possession thereof or an offering to or for the account or benefit of any U.S. person (as defined in Regulation S under the 1933 Act) or a solicitation therein of an offer to buy any securities. Accordingly, subject to certain exceptions, the subscription agent will not accept subscriptions from any unitholder or from any transferee of rights who is or appears to be, or who the subscription agent has reason to believe is, a resident of the U.S. or any territory or possession thereof or of any jurisdiction outside of Canada.
Each holder of rights who has initially subscribed for all of the units to which such holder is entitled pursuant to the basic subscription privilege may subscribe for any number of additional units, if available, at a price equal to the subscription price for each additional unit. If any holder of rights has subscribed for fewer additional units than such holder's pro rata allotment of additional units, the excess additional units will be allotted in a similar manner among the holders who were allotted fewer additional units than they subscribed for.
To apply for additional units under the additional subscription privilege, any holder of a rights certificate who completes Form 1 on the rights certificate for the maximum number of units that can be subscribed for pursuant to the basic subscription privilege also must complete Form 2 on the rights certificate and specify the number of additional units desired to be subscribed for and any unregistered holder of rights must forward its request to the CDS participant prior to the expiration time. Payment for additional units, in the same manner as for the basic subscription privilege, must accompany the rights certificate and the request when it is delivered to the subscription agent, or the CDS participant, as the case may be. Any excess funds will be returned by mail by the subscription agent or credited to a subscriber's account with its CDS participant by the subscription agent, as applicable, without interest or deduction. Payment of such subscription price must be received by the subscription agent prior to the expiration time, failing which the subscriber's entitlement to such units shall terminate. Accordingly, if a subscriber is applying through a CDS participant, the subscriber must deliver its payment and instructions sufficiently in advance of the expiration time to allow the CDS participant to properly exercise rights on its behalf.
It is anticipated that the prospectus and the rights certificates will be mailed to unitholders on or about Aug. 8, 2007.
The prospectus discloses that the fund has engaged Middlefield Capital Corp. (the dealer manager) to form a soliciting dealer group to solicit the exercise of the rights. The fund will pay a subscription fee of 15 cents (the subscription fee) for each subscription of a unit procured by the dealer manager or a member of the soliciting dealer group, subject to a maximum subscription fee of $1,500 and minimum subscription fee of $85 in respect of rights exercised by or on behalf of any single beneficial subscriber and provided that no subscription fee will be paid in respect of an exercise of rights to purchase less than 250 units by any single beneficial subscriber.
Trading and settlement rules
Trade dates Settlement dates
Aug. 24, 2007 Aug. 28, 2007
Aug. 27, 2007, and Aug. 28, 2007 Cash next day
Aug. 29, 2007 Cash same day
1. All trades on Aug. 24, 2007, will be for special settlement on Aug. 28, 2007. These trades will appear on the CDS settlement report and will be recorded with a settlement date of Aug. 28, 2007.
2. All trades on Aug. 27, 2007, and Aug. 28, 2007, will trade for cash settlement the following business day. Trades on Aug. 29, 2007, from the open to noon will be for same day cash settlement.
3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.
4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Reference should be made to Rule 5-303.
Such demand shall be made before 4 p.m. on Aug. 29, 2007. Investors should contact their brokers for information or advice on their investment.
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2
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25
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Created
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07/28/07
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Free
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